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What’s Next for Mobil’s ₦47.6bn Investment Property Portfolio?

This week NIPCO Plc, an indigenous downstream oil and gas company, announced the acquisition of a 60% stake in Mobil Oil Nigeria Plc (MON) from ExxonMobil, in line with the divestment trend seen by a number of international oil companies (IOCs) operating in the country. Interestingly, MON has a portfolio of investment properties that was […]

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Lagos State Demolishes Car Showrooms on Alfred Rewane (Kingsway) Road

On Sunday, the Lagos State Government demolished a number of structures on the setback on Alfred Rewane (Kingsway) Road in Ikoyi. As shown in the map below, affected structures include showrooms/shops for Mercedes-Benz, Kia and Hyundai/Hyger cars. The Special Committee on Clean-Up of Ikoyi, Lekki, and Victoria Island, which was inaugurated by Governor Ambode has […]

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Sanlam Africa Core Real Estate Investments Reports Lower Profit for June 2016

For the 6 months ended June 2016, Sanlam Africa Core Real Estate Investments Ltd reported a profit before tax of $1.1 million, lower than the $1.5 million for the same period a year ago. The fund explained that the regions where they are holding assets continue to suffer an economic slowdown.  The sustained slump in commodity […]

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ToLet.com.ng Raises $1.2m to Improve Services and Support Expansion

ToLet.com.ng, a Lagos-based real estate classifieds start-up has raised a $1.2 million Series A round of funding from Frontier Digital Ventures. Frontier Digital Ventures is a Malaysia-based investor in leading classifieds companies in emerging markets. Last year it invested $500,000 in Ghanaian real estate classifieds start-up MeQasa and has made several investments across frontier markets including Panama’s […]

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New Sale Reports Published

New sale reports have been published showing transactional details on the acquisition of hotel properties in Sub Saharan Africa. The acquisitions covered include: Federal Palace Hotel, Victoria Island, Lagos – Nigeria (2010) Intercontinental Hotel, Lusaka – Zambia (2016) View the sale reports.

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5 Reasons Why Novare Lekki Mall was a Great Investment

Urshday Limited, a joint venture between local landowners and Novare Equity Partners opened their 22,000m2 shopping mall – Novare Lekki Mall – to the public last week. This single level mall has attracted thousands since it opened on Thursday as residents in the estates nearby and others from farther out in the city traveled to see […]

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Novare Lekki Mall Opens This Week

The 22,000sqm Novare Lekki Mall will open this week on the 25th August with over 1,000 parking bays and anchors such as Shoprite, Game and Genesis Deluxe Cinemas. Other tenants include Adidas, HealthPlus, Pep, MTN, Tantalizers, Swatch, Levi’s, Spur, Nike and Stanbic IBTC Bank. The mall is very well located with an excellent catchment area, and will serve multiple residential […]

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Further Reforms to the Real Estate Transaction Business in Lagos

The Lagos State Government plans to reform the Real Estate Transaction Business in the State by overhauling the Lagos Estate Management Information System (LAGEMIS) to solve the problems typically associated with the enforcement and management of the Lagos State Tenancy Law. Speaking in an interview with news correspondents, The Commissioner for Housing, Prince Gbolahan Lawal said: “At […]

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Old Mutual Investments and NSIA team up to Tackle Real Estate and Agriculture

Old Mutual Investment Group (OMIG) has announced its plans to expand its commercial real estate and agriculture footprints in Africa through a partnership with Nigerian Sovereign Investment Authority (NSIA), Nigeria’s sovereign wealth fund. The partnership, which today saw the signing of transaction documents in Nigeria, will allow for the establishment of two separate investment vehicles, […]

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Sogenal Group & Eris Property Group Reveal Sogenal Tower Design

Sogenal Group and their partners Eris Property Group on Wednesday unveiled the design of their new 14 story high-rise office tower, which will be located on Kingsway (Alfred Rewane) Road in the upmarket Ikoyi neighbourhood of Lagos, Nigeria. The eagerly awaited development represents Sogenal & Eris’ commitment to invest in the largest economy in Africa. The 11,560m² project […]

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